Industrial Engineering

IE Seminar Series: Dr. Xin (Sophie) Liu

Optimal controls for production systems with perishable inventory and time-varying demand We study production systems with non-stationary stochastic demand, perishable inventory, and abandonment of backorders. In addition to inventory-related (holding, perishment) and demand-related (waiting, abandonment) costs, we consider a cost that penalizes rapid fluctuations of production rates. We formulate a finite-time production rate planning problem […]